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06
Jun ’22
Pic: Shutterstock
The International Chamber of Commerce Bangladesh (ICCB) has strongly endorsed the recent recommendation made by the ministry of finance to avoid hard loans and discourage the import of luxury goods as this may reduce pressure on declining foreign exchange reserves. This will send a positive signal to the market and the economy as well as curb inflation, it said.
The trade body also endorsed recent austerity and regulatory measures by the government and the Bangladesh Bank aimed at curbing non-essential imports and suspending the implementation of projects with high import components, according to Bangladeshi media reports.
The International Chamber of Commerce Bangladesh has strongly endorsed the recent recommendation made by the ministry of finance to avoid hard loans and discourage the import of luxury goods as this may reduce pressure on declining foreign exchange reserves. This will send a positive signal to the market and the economy as well as curb inflation, it said.
ICCB also backed the demand by businesses not to raise power and gas rates, fuel prices as well reduce corporate tax rates during the upcoming budget as these will be helpful in containing the inflation, said ICCB president Mahbubur Rahman at its 27th annual council meeting in Dhaka recently.
Fibre2Fashion News Desk (DS)
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